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In-Q-Tel Participates in Hermeus’ $100M Funding Round

In-Q-Tel Participates in Hermeus' $100M Funding Round - top government contractors - best government contracting event

Hermeus, a startup company that aims to build hypersonic aircraft, has raised $100 million in a Series B funding round from intelligence community investment organization In-Q-Tel and several other investors.

Sam Altman, co-founder and CEO of artificial intelligence research company OpenAI, led the venture round to support Hemeus’ aircraft development work, the Atlanta-based startup said Thursday.

Founder’s Fund, Khosla Ventures, Canaan Partners, Bling Capital and Revolution’s Rise of the Rest were the other investors.

AJ Piplica, CEO of Hermeus, said the new capital represents “a new phase for the company – one where the stakes are higher than they’ve ever been, but also where we have the resources to accomplish what some think is impossible.”

The company plans to use the funds to complete its Quarterhorse aircraft and pursue another uncrewed hypersonic vehicle, dubbed Darkhorse.

A group of people from the government and business sectors witnessed the Quarterhorse prototype unveiling event in November 2021, and Hermeus aims to conduct a test flight sometime in 2023.

The hypersonic aircraft developer also produced a Mach 5 engine technology, Chimera, and noted that it will use lessons learned from its Darkhorse project to move forward with its Halcyon commercial passenger transportation system.

In-Q-Tel Participates in Hermeus' $100M Funding Round - top government contractors - best government contracting event

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Written by Nichols Martin

a staff writer at Executive Mosaic, produces articles on the federal government's technology and business interests. The coverage of these articles include government contracting, cybersecurity, information technology, health care and national security.

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